During an economic expansion, real GDP ________ and unemployment ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
B
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Agency problems and costs are incurred whenever the owners of a firm delegate decision-making authority to management
a. true b. false
A federal budget deficit can simultaneously reduce inflation and unemployment
a. True b. False Indicate whether the statement is true or false
As a result of a tariff on an imported good,
a. domestic producers are better off because they sell more goods at the same price. b. domestic producers are better off because they sell more goods at a higher price. c. domestic producers are better off because they sell the same quantity of goods at a higher price. d. domestic consumers are better off because there are more domestically produced goods available. e. domestic consumers are neither better off nor worse off because imports do not change.
Which of the following examples indicates that two oligopolistic firms are involved in a non-cooperative game?
a. The two firms collude to improve their profit-maximizing position. b. The two firms forge a binding contract to align their pricing strategies. c. Each firm sets its own prices without consulting its competitor. d. Each firm talks to its competitor before setting its prices.